Scalada Holdings Negotiates Rights to Process Tailings
Scalada Holdings, Ltd. has secured the rights to further process tailings in the hope of refining trace quantities of platinum in the host ore.
- (1888PressRelease) March 25, 2014 - Singapore - Scalada Holdings, Ltd., the Singapore based sustainable solutions group, has announced that, further to the announcement of its recent joint venture with Colorado-based gold miner, Franklin Mining, Inc., it has also negotiated the rights to process tailings produced by ore extraction from each of Franklin Mining's Bolivian mines.
Robert McClung, the recently appointed Scalada Holdings President, said that the opportunity to process the rock would potentially yield significant quantities of platinum.
"Tailings" is the name given to rocks that are extracted from mines along with the raw ore that contains gold.
"These tailings should not be confused with the cyanide-laced tailings that are a by-product of chemically-based processing," advised Mr. McCLung. "These tailings are in rock form and tend to be unusually heavy owing to the trace metals they contain. We have infrastructure and facilities that are able to extract these metals far more efficiently than our partners, Franklin Mining, at these mines so they have agreed to allow us access to them in return for appropriate consideration," Mr. McClung added.
Scalada Holdings believes it can produce as much as 250,000 ounces of platinum from the 4 Franklin Mining mines in Bolivia over the course of 12 months. The company has agreed to commit another $150,000 to the deployment of plant and additional equipment with which it intends to process the tailings.
"We intend to begin production with Franklin Mining, Inc. within the next 10 weeks now that our financial backers have had the opportunity to join us on the various sites and to go over the highly compelling geological reports and feasibility studies," concluded Mr. McClung.
About Franklin Mining, Inc.
Franklin Mining Bolivia operates with the highest standards of quality and efficiency by optimizing their resources and the preservation of the environment. In this way they generate value in fields in which they operate and the projects that explore and exploit, besides contributing to the socio-economic and cultural development of our society, they develop a model mining operations through safe, low cost, innovative technology, social commitment and respect for the environment, creating value for shareholders, employees and the region in which it operates.
About Scalada Holdings, Ltd.:
Scalada Holdings, Ltd. is in the business of bringing green solutions to the global marketplace that produce sustainable outcomes along with its wholly owned subsidiary, Titan Holdings Inc., a Nevada based environmental company. Scalada Holdings provides integrated solutions over a wide range of technologies, services and extensive knowledge to allow global institutions to meet their environmental goals.
To learn more about Scalada Holdings, Ltd., its wholly owned subsidiaries, and their business of bringing green solutions to the global marketplace that produce sustainable outcomes, visit www.scaladaholdings.net.
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